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The STI’s Last Minute Scramble To Positive Territory
Forward, Tradeable | 30 December 2013
By: Justin Harper
Articles (23) Profile
By: Simeon Ang
Articles (125) Profile

The STI is desperately scrambling to end the year in the black in what has been a topsy-turvy year for the local market, dominated by the penny stocks fiasco. Traders have needed to be shrewd this year to eke out profits from local stocks while Reits continue to recover.

It’s going to be another relatively quiet week on the economic calendar not just in Singapore but across global markets, in the lull between Christmas and New Year. However, it gives traders a chance to take stock of 2013 and assess their own performance.

Early morning trade pushed the Straits Times Index northward after last week’s gains. Doing particularly well were stocks in the FTSE ST Health Care Index and FTSE ST Basic Materials Index.

Read on to find out what’s in store for the trading week ahead!

In Singapore…

  • 4Q13 advanced GDP figures

Singapore’s Trade and Industry Ministry will be releasing the country’s advance gross domestic product (GDP) estimates for 4Q13 as well as the whole of 2013.

The Singapore government had previously raised Singapore’s GDP growth forecast for the year as the economy was boosted by growth in the services and manufacturing sectors.

According to the Ministry, Singapore is now expected to growth between 3.5 and 4 percent, up from an earlier forecast of 2.5 to 3.5 percent.

Around the World…

In the China, look out for,

  • China’s PMI manufacturing survey for December

China continues to confuse economists with its economic data showing slow and steady growth followed by the occasional blip. HSBC’s flash PMI indeed showed a blip in factory output as it slowed to a three-month low for December.

The reading of 50.5, compared to 50.8 for November, caught many by surprise at they were expecting a higher figure from the world’s second largest economy. On the bright side the figure was above 50 which signifies expansion in the manufacturing sector.

US:

  • December consumer confidence
  • PMI manufacturing survey for Dec
  • Construction spending

Consumer confidence has been creeping up in the U.S, as Americans have been buoyed by an improving jobs market, a resilient house-building sector, a rising stock market and slowly improving economic data.

A rival consumer confidence survey published recently showed a five-month high and expectations are raised for this week’s data. Last month saw a reading of 70.4, and consensus for December is 76.

On Thursday we should get a better idea of the state of the US manufacturing economy with the release of the Market PMI manufacturing data. However, preliminary readings for the survey show that the sector expanded at a slower pace in December.

PMI print dipped slightly to 54.4 for December, compared to 54.7 for November. Expectations were for a slight increase to 54.9. But even though there is a chance US factory activity will miss these expectations, a 54-plus reading is a positive sign, given anything about 50 shows economic growth.

Scroll down to our Calendar below to find out more about the exact dates of these figures release as well as other important economic data.

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This is a co-written article of Shares Investment, which lays out the analytical ideas and thoughts of the authors, who are well versed in investments and market concepts.


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